Leader in pay day loans makes their existence felt at Minnesota Capitol

Leader in pay day loans makes their existence felt at Minnesota Capitol

— Richard Sennott, Celebrity Tribune file

By Ricardo Lopez , Celebrity Tribune 10, 2015 – 8:06 AM august

Brad Rixmann, leader of Burnsville-based Payday America, is a huge regarding the lending that is payday, running the biggest such company when you look at the state. He is also an important player in Minnesota politics, having doled out almost $550,000 in state campaign contributions throughout the decade that is last.

As Rixmann’s efforts have cultivated, so has their business, aided by state legislation that enables him to charge interest that is triple-digit on loans that will get as much as $1,000. Their clients pay on average 277 per cent interest, often borrowing over over over over and over repeatedly against their next paycheck.

Rixmann, 50, first became familiar to Minnesotans since the face of Pawn America, a string of pawn shops he were only available in the early 1990s. He has got starred in commercials that desire people to make also broken necklaces and solamente earrings for money trade. Read More Leader in pay day loans makes their existence felt at Minnesota Capitol

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